PolySwarm today announced the first decentralized IT marketplace allowing security experts to build anti-malware engines that compete to protect consumers. Today’s antivirus and IT security market is dominated by single vendor offerings that often miss emerging threats.
PolySwarm incentivizes a global community of information security experts to disrupt the $8.5 billion cyber threat intelligence industry. By introducing a platform encouraging innovation and competition, the market will reward experts who are best able to protect users.
PolySwarm’s founders built the company out of Narf Industries, LLC, an information security firm that recently completed a blockchain-based identity management project for the Department of Homeland Security and cutting-edge information security projects for DARPA. PolySwarm’s advisory board includes former McAfee CIO Mark Tonnesen and renowned information security experts Dan Guido, Chris Eagle, Dr. Sergey Bratus, and Carl Hoffman.
“We are driven to improve the threat intelligence marketplace for ourselves, our clients, and the industry at large,” said Steve Bassi, founder and CEO of PolySwarm. “By providing robust incentives that align participants’ interest with continued innovation, PolySwarm will break the mold of today’s iterative threat intelligence offerings.”
“PolySwarm is uniquely addressing an important issue in cybersecurity with a potentially disruptive approach,” Mr. Tonnesen said. “I’m thrilled to be working so closely with their team.”
The PolySwarm market runs on Nectar (“NCT”), an ERC 20-compatible utility token that makes it easy to submit and classify potential threats on the PolySwarm market. Nectar replaces traditional, outdated antivirus and threat-scanning subscription payments. The Nectar token sale begins February 6, 2018.
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